Firm trend on cotton market

LAHORE: The local cotton market on Monday remained steady and the trading volume remained low. Cotton Analyst Naseem Usman told Business Recorder that cotton arrival in Pakistan decreased 24 percent year-on-year, showed the latest fortnightly data released by the Pakistan Cotton Ginner’s Association (PCGA) on Monday.

As per the report released by PCGA, total cotton arrival in Pakistan declined to 2.930 million bales as of October 1, 2022, compared to 3.846 million bales in the same period last year, a fall of 0.916 million bales or 24%.

The rate of cotton in Sindh is in between Rs 17,000 to Rs 20,000 per maund. The rate of cotton in Punjab is in between Rs 18,000 to Rs 20,000 per maund. The rate of Phutti in Sindh is between Rs 6,500 to Rs 8,500 per 40 kg. The rate of Phutti in Punjab is in between Rs 7,500 to Rs 9,500 per 40 kg. The rate of cotton in Balochistan is in between Rs 18,000 to Rs 19,000 per maund.

1200 bales of Khair Pur were sold at Rs 18,300 to Rs 18,500 per maund, 600 bales of Rohri were sold at Rs 18,300 per maund, 800 bales of Sanghar were sold at Rs 16,500 to Rs 18,500 per maund, 800 bales of Mian Wali and 200 bales of Rahim Yar Khan were sold at Rs 19,500 per maund.

The Spot Rate remained unchanged at Rs 19,000 per maund. The price of Polyester Fiber decreased by Rs 3 and was available at Rs 305 per kg.

Copyright Business Recorder, 2022